Inventory and sales of homes continue to move in the right direction.
Homes priced between $150,000 and $500,000 saw positive sales volume, along with both median and average prices reaching record highs for a September.
According to the latest monthly report by the Houston Association of REALTORS® (HAR), home sales are up 1.3 percent compared to this point in 2015. Inventory levels rose from a 3.5-months supply to 3.9 months.
Houston Home Inventory Levels Continue to Move in Right Direction
"With home sales ahead of where they were at this time last year – a record sales year – in a market that continues to suffer energy-related job losses, I believe we’re doing well,” said HAR Chairman Mario Arriaga with First Group. “Inventory is still moving in the right direction, and consumers that were not buying homes in September accounted for strong rental activity throughout the month."
The single-family home median price — the figure at which half of the homes sold for more and half sold for less — rose 4.8 percent to $219,990. That is the highest median price ever for a September. The average price increased 2.4 percent to $277,849, which is also a September high.
September only sales of all property types in Houston totaled 7,893, down 1.6 percent from the same month last year. Total dollar volume for properties sold in September was unchanged at $2.1 billion.
Total active listings, or the total number of available properties, at the end of September rose 11.6 percent from September 2015 to 37,955.
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